News 11 october — 15:24

Wall Street beating takes down Asian stocks


Asian stocks slumped in early trade as concerns about higher US interest rates and a global trade war prompted investors to sell risk globally, BBC reports.

Markets in Asia took their cue from US stocks, which suffered their sharpest one-day falls in months on Wednesday.

Japan's benchmark Nikkei 225 dropped 3.9% - on course for its biggest daily drop since March.

In China, the Shanghai Composite fell to lowest since 2014. It was 3.9% lower and the Hang Seng dropped 3.8%.

The US Federal Reserve raised rates in September as the economy grows solidly.

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